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- Release Date: 05/03/13 12:00
- Summary: GENERAL: SAN: Sanford Limited - Zero Commission NZ Ltd Unsolicited Offer
- Price Sensitive: No
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SAN
05/03/2013 10:00
GENERAL
REL: 1000 HRS Sanford Limited
GENERAL: SAN: Sanford Limited - Zero Commission NZ Ltd Unsolicited Offer
SANFORD LIMITED
SUSTAINABLE SEAFOOD
5 March 2013
NZX ANNOUNCEMENT
ZERO COMMISSION NZ LIMITED - UNSOLICITED OFFER
Sanford Limited advises that on 16 February 2013 it received a request from
Zero Commission NZ Limited for a copy of its share register for shareholders
holding up to and including 1,000 shares. A copy of the share register was
provided to Zero Commission, as required by the Companies Act 1993.
Zero Commission has since advised that it will be writing to a number of
Sanford shareholders holding smaller parcels of shares with an offer to buy
their Sanford Limited shares for $4.00 per share.
The Board of Sanford Limited wishes to advise that it does not endorse this
offer.
The market price for Sanford shares was $4.34 per share as at close of
trading on 4 March 2013.
Sanford recommends that shareholders who receive an offer from Zero
Commission:
o read the Zero Commission disclosure document and terms of offer
carefully and thoroughly;
o seek independent financial and/or legal advice if they are uncertain
about this matter or are contemplating selling their Sanford shares;
o check the most recent market price for Sanford shares
(www.nzx.com/companies/SAN).
Shareholders are under no obligation to accept any offer or to take any
action in respect of it. Unsolicited share offers are now subject to The
Securities Market (Unsolicited Offers) Regulations 2012. Under these
regulations, shareholders have the right to cancel any acceptance of the
offer up to 10 working days after the date of the acceptance.
Shareholders accepting Zero Commission's offer should be aware that they are
likely to be in the position of being an unsecured creditor of Zero
Commission during the period between their shares being transferred to Zero
Commission and receiving full payment from Zero Commission.
For further information please contact:
Dean McIntosh
General Manager Finance and Administration
Direct Dial: +64 9 300 8441
Mobile: +64 27 480 2250
Eric Barratt
Managing Director
End CA:00233779 For:SAN Type:GENERAL Time:2013-03-05 10:00:07
